Kazakhstan finalizing its DBK sukuk debut

Kazakhstan is finalizing its debut sukuk which will be issued by the Development Bank of Kazakhstan (DBK) in the Malaysian market. The DBK, which is 100 percent owned by the government of Kazakhstan, is working with HSBC and Royal Bank of Scotland (RBS) to manage the ringgit-denominated issuance which is effectively a quasi-sovereign offering.
According to Timur Omarov, Head of Financial Education at the National Bank of Kazakhstan, the central bank, the decision for DBK to raise funds from the Malaysian market was finalized during the visit of President Nursultan Nazarbayev of Kazakhstan to Malaysia in April 2012 where he had discussions with Malaysian Prime Minister Mohd Najib Abdul Razak………………………………………..Full Article: Source